These charts show a couple of trades I took (one was in my super fund) late last year some week's prior to takeover offers being announced. Was it the smart money buying that triggered the buys or was it public information that triggered the price and volume information? Or was it something altogether different.
In the case of FLT it is possible that the stock had bottomed out. I am not sure what the fundamentals were saying (if you can trust them) but I suspect they were painting a turnaround story - things were looking rosier in the future. Not a bad reason to launch a takeover!
On a side issue I used PlotText to put the close price on the chart as well as CloudCharts to plot a breakout band.
Stevo
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